Market Reports

Weekly Statshot

Be Careful – Know Your Definitions!

posted: 06/26/2018

Contacting a withdrawn seller is soliciting a listing that is still listed which is a potential violation of Article 16 of the Code of Ethics.

In our MLS, the listing agreement with the seller is still intact when a property is in withdrawn status. Withdrawn is a temporary status used when a seller doesn’t want the property shown while something temporary is going on (renovations, family illness, Christmas holidays, etc.). The listing agreement between the seller and Broker is still in place through the expiration date, but the property is withdrawn from active compilations in MLS until placed back on the market as active.

On the other hand, if the status in MLS is canceled, the listing agreement between the seller and listing broker was voided, and there is no violation to solicit the listing.